WEBVTT - Paul Murray Live | 26 November 0:00:00.120 --> 0:00:05.320 From the Skying In Center. This is Paul Murray Live. 0:00:06.600 --> 0:00:08.639 Holo Mate, forgive me too hot for Jackets Tonight We've 0:00:08.640 --> 0:00:11.119 got a big one ahead, including the great Nigel Ferrars 0:00:11.240 --> 0:00:13.920 joins us a great debate as expected. The first, let's 0:00:13.920 --> 0:00:16.880 getting the stuff that's around today now, as we know, 0:00:16.920 --> 0:00:19.400 the Prime Minister seems like he's heading for a brick 0:00:19.440 --> 0:00:21.320 wall when it comes to the upcoming federal election. 0:00:21.480 --> 0:00:22.760 Why because it just. 0:00:22.720 --> 0:00:25.520 Doesn't matter what he thinks or what he says about 0:00:25.560 --> 0:00:28.760 how amazing everything is. The reality is that, as we've 0:00:28.800 --> 0:00:31.960 told you before, austraightas wealth gap is heading towards its 0:00:31.960 --> 0:00:36.560 worst inequality since the nineteen fifties. As you've heard multiple times, 0:00:36.560 --> 0:00:38.080 and we've been talking about it for as long as 0:00:38.120 --> 0:00:39.800 it's been part of the mix. We're in a per 0:00:39.840 --> 0:00:42.440 cap at a recession, meaning that okay, they are able 0:00:42.440 --> 0:00:44.960 to find a way to say that the country is 0:00:45.000 --> 0:00:48.040 ever so slightly growing, but not when it comes to 0:00:48.080 --> 0:00:50.680 you and I, because but simply, the wages of most 0:00:50.680 --> 0:00:54.160 normal people is not matching the cost an increased cost 0:00:54.200 --> 0:00:57.480 of everything. The only exception is often things when it 0:00:57.520 --> 0:01:02.320 comes to the public service, which has exploded under this government. 0:01:02.360 --> 0:01:05.160 More than thirty thousand people have been hired by the 0:01:05.160 --> 0:01:08.120 federal government, and everyone working for the public service, including 0:01:08.120 --> 0:01:10.240 the politicians, have got pay rises. 0:01:10.280 --> 0:01:10.920 In the case of the. 0:01:10.840 --> 0:01:14.639 Politicians, they have got three pay rises since the last election. 0:01:14.959 --> 0:01:19.120 You and I obviously not the same. In fact, as 0:01:19.120 --> 0:01:21.800 the Australian newspaper had on its front page this morning, 0:01:22.080 --> 0:01:24.399 the graph that we may have quickly flashed at you before, 0:01:24.440 --> 0:01:26.480 but I want you to see again, this is the 0:01:26.520 --> 0:01:32.080 overall picture about households. We are going backwards. The costs 0:01:32.120 --> 0:01:37.520 go up, the income goes down, meaning the deficit gets larger. 0:01:38.440 --> 0:01:40.480 The one thing that the Prime Minister and his Treasurer 0:01:40.520 --> 0:01:42.560 have said over and over again that is the proof 0:01:42.600 --> 0:01:46.360 about their incredible economic management, is the document where they 0:01:46.400 --> 0:01:49.800 don't have to actually count everything that they spend. As 0:01:49.800 --> 0:01:53.760 we know there are tens, probably hundreds of billions of 0:01:53.800 --> 0:01:57.600 dollars which are off budget, much of the spending that 0:01:58.080 --> 0:02:01.240 Chris Bowen's been putting in place. And as they're able 0:02:01.280 --> 0:02:04.320 to get a massive increase in iron oil receipts, as 0:02:04.320 --> 0:02:06.640 they're able to count the profits of the Future Fund, 0:02:06.800 --> 0:02:08.679 they've been able to say this for the past couple 0:02:08.720 --> 0:02:09.160 of years. 0:02:10.400 --> 0:02:15.880 The Albanesi Labor government has delivered a second consecutive budget surplus. 0:02:16.000 --> 0:02:19.600 What we've done is produce a budget surplus and followed 0:02:19.639 --> 0:02:21.800 it up with another budget surplus. 0:02:21.880 --> 0:02:25.160 We haven't chosen between cost of living relief or budget surpluses. 0:02:25.200 --> 0:02:26.280 We've been able to do both. 0:02:26.600 --> 0:02:29.399 We have delivered back to back budget sources. 0:02:30.680 --> 0:02:32.840 And for those that are cheering on in the press gallery, 0:02:32.880 --> 0:02:35.400 they think that that is enough. Now, this is a 0:02:35.400 --> 0:02:37.520 little bit like the people who thought that Kamala Harris 0:02:37.600 --> 0:02:40.560 was a chance against Trump because the numbers that were 0:02:40.560 --> 0:02:42.840 coming out of Washington, well, they were getting better by 0:02:42.919 --> 0:02:43.560 the week and. 0:02:43.520 --> 0:02:44.000 By the month. 0:02:44.280 --> 0:02:48.639 The reality, of course, is that while even if inflation, say, 0:02:49.000 --> 0:02:51.120 didn't go up at all in the next quarter, it 0:02:51.160 --> 0:02:54.799 has gone up by a significant amount since this government started. 0:02:55.240 --> 0:02:57.160 Now they're going to say, well, it's started to come down, 0:02:57.280 --> 0:03:00.799 but remember, as we've said before, you add one quarter 0:03:00.840 --> 0:03:02.200 on top of the other quarter, on top of the 0:03:02.200 --> 0:03:03.600 other quarter, on top of the other quarter, and that's 0:03:03.600 --> 0:03:05.480 how you end up with eggs that end up costing 0:03:05.520 --> 0:03:11.280 thirty percent more than before this mob came to power. Well, 0:03:11.480 --> 0:03:14.440 this distraction, this excuse, looks like it too, is about 0:03:14.480 --> 0:03:17.000 to go up in smoke. The reality is that, as 0:03:17.040 --> 0:03:20.240 I have told you on budget nights, during all of 0:03:20.280 --> 0:03:23.120 this government's term, the budget is in what is called 0:03:23.160 --> 0:03:27.360 a structural deficit. That put, simply, they keep adding so 0:03:27.600 --> 0:03:31.480 much spending to the overall commitments of the federal budget 0:03:32.120 --> 0:03:35.080 that you need to keep revenue going up by the 0:03:35.120 --> 0:03:38.000 same amount. But that may well not end up being 0:03:38.080 --> 0:03:40.640 the case. As you've heard a couple of times, I 0:03:40.640 --> 0:03:42.200 want to add a little more to what Peter was 0:03:42.240 --> 0:03:45.640 explaining to you a bit earlier this evening about access economics. Now, 0:03:45.680 --> 0:03:47.920 generally speaking, give will take a few billion here or there. 0:03:47.960 --> 0:03:50.880 They're generally in the same spot as the government, or 0:03:50.960 --> 0:03:52.200 certainly they're in the right spot. 0:03:52.440 --> 0:03:53.200 More often than not. 0:03:53.960 --> 0:03:55.560 They say over the next few years that there's a 0:03:55.600 --> 0:03:59.400 twenty seven b four billion dollar difference between the budget 0:03:59.400 --> 0:04:01.400 where it sits and the budget about where it's going 0:04:01.440 --> 0:04:03.680 to go. And that's not extra revenue. In fact, it 0:04:03.720 --> 0:04:08.360 is extra spending. And this, by the way, is what 0:04:08.440 --> 0:04:10.320 we should be talking about, not over the next five 0:04:10.320 --> 0:04:14.200 to ten years, but over the next twelve months. The 0:04:14.320 --> 0:04:18.520 estimates for this year's budget deficit, which Chalmers said in May, 0:04:18.600 --> 0:04:21.279 would be twenty eight point three billion is more likely 0:04:21.279 --> 0:04:26.000 to be thirty three point five billion. Why commodity prices 0:04:26.080 --> 0:04:31.200 are falling company tax collections as well as inflation is 0:04:31.240 --> 0:04:35.400 pushing up the overall cost of government services, meaning the 0:04:35.440 --> 0:04:39.920 revenue is starting to fall but the expenses are not. 0:04:41.400 --> 0:04:44.560 And thankfully the Financial Review made this even simpler for 0:04:44.640 --> 0:04:47.440 everyone to get our head around now, as you can 0:04:47.440 --> 0:04:50.040 see the difference between the blue line, which is where 0:04:50.200 --> 0:04:54.520 the access economics people are modeling things, versus the red 0:04:54.600 --> 0:04:57.599 of the Treasury. Now they say here that while we 0:04:57.640 --> 0:05:01.280 will be headed towards a budget deficit, Deloitte says it's 0:05:01.320 --> 0:05:02.560 going to be deeper than. 0:05:02.440 --> 0:05:03.360 What the Treasury says. 0:05:03.400 --> 0:05:03.560 Now. 0:05:03.560 --> 0:05:07.600 Remember, Treasury often gets it wrong. In fairness, they often undercount. 0:05:07.960 --> 0:05:11.479 But the suggestion here by Deloitte is that rather than 0:05:11.880 --> 0:05:15.960 undercounting in some ways, they are overcounting. The rosier picture 0:05:16.360 --> 0:05:19.039 that the government is trying to pick about its own 0:05:19.120 --> 0:05:24.480 financial circumstances and after the next election things get particularly bad. 0:05:25.279 --> 0:05:27.440 This is not because the amount of money coming into 0:05:27.480 --> 0:05:30.280 the government is not at record levels. In fact, if 0:05:30.279 --> 0:05:33.120 you have a look at the expectations for twenty twenty five, 0:05:33.200 --> 0:05:35.520 twenty six, twenty seven and twenty eight. 0:05:36.760 --> 0:05:39.119 We hit record levels. Now. 0:05:39.200 --> 0:05:42.320 By the way, just have a look at Australia. Are 0:05:42.480 --> 0:05:46.719 what two thousand and twenty two, at the change of government, 0:05:47.240 --> 0:05:49.600 the total government revenue was about two hundred and fifty 0:05:49.960 --> 0:05:54.640 billion dollars. They're now at four hundred billion dollars in 0:05:54.680 --> 0:05:56.280 the space of just a couple of years. 0:05:56.320 --> 0:05:56.480 Now. 0:05:56.480 --> 0:06:00.160 Our population has not exploded despite the best effort of 0:06:00.200 --> 0:06:03.760 this government. However, fiddles and changes to the tax system 0:06:04.000 --> 0:06:08.680 mean that taxation revenue has increased. But look what has 0:06:08.720 --> 0:06:12.440 also increased. Back in twenty twenty two, six hundred and 0:06:12.480 --> 0:06:14.760 fifty b four billion dollars was how much the federal 0:06:14.839 --> 0:06:18.280 government was spending. The expectation here is that by twenty 0:06:18.440 --> 0:06:21.680 twenty eight it'll be eight hundred and fifty billion dollars. 0:06:22.640 --> 0:06:26.120 That's what I refer to as the structural deficit. The 0:06:26.240 --> 0:06:31.919 spending is exponential in its growth. The revenue, while still 0:06:32.640 --> 0:06:38.279 heading up very quickly, is not matching the same rocket ship. 0:06:38.839 --> 0:06:41.599 Which is why we get to the Intergenerational Report, which 0:06:41.720 --> 0:06:44.320 was released though I think about a year ago, and 0:06:44.360 --> 0:06:48.680 this was the insight into Australia's true economic future, and 0:06:48.760 --> 0:06:53.920 it showed budget deficits every single year all the way 0:06:54.600 --> 0:06:59.640 through the twenty thirties, the twenty forties, the twenty fifties, 0:07:00.360 --> 0:07:03.159 and the worst budget deficits into our future are in 0:07:03.200 --> 0:07:07.960 the two thousand and sixties. The Australian population by two 0:07:08.000 --> 0:07:10.320 thousand and sixty is expected to be the best part 0:07:10.360 --> 0:07:15.720 of forty four zero million people, so the government will 0:07:15.720 --> 0:07:17.320 be doing a good job of trying to get more 0:07:17.360 --> 0:07:20.320 revenue because more people equals more taxes, despite the fact 0:07:20.320 --> 0:07:24.000 that more people equals more pressure on government services, and 0:07:24.040 --> 0:07:26.320 then you need even more people than that to pay 0:07:26.360 --> 0:07:28.760 for those government services when the people who are paying 0:07:28.800 --> 0:07:31.760 tax in twenty and sixty start to retire. It's why 0:07:31.760 --> 0:07:36.000 Dick Smith refers to it as a Ponzi scheme. So 0:07:36.080 --> 0:07:39.320 while the Prime Minister has been able to say that 0:07:39.440 --> 0:07:41.800 because they have been kissed by lightning for a couple 0:07:41.800 --> 0:07:44.960 of years in row Odd's excellent economic management. But unless 0:07:44.960 --> 0:07:50.440 you are willing to retool the fundamental ingredients in the budget, 0:07:51.040 --> 0:07:54.920 that unless you keep having these lucky spikes of income, 0:07:55.520 --> 0:07:58.480 then the baked in spending overtakes it and you go 0:07:58.640 --> 0:08:03.600 to a deficit sooner rather than later. It means that 0:08:03.640 --> 0:08:06.080 while they stand up today and say haven't we been amazing. 0:08:06.120 --> 0:08:10.040 We've either saved or paid off one hundred billion dollars 0:08:10.080 --> 0:08:14.360 worth of debt that all of that automatically gets thrown 0:08:14.400 --> 0:08:18.320 away because just like inflation, is a price increase on 0:08:18.360 --> 0:08:20.880 top of a price increase in top of a price increase. 0:08:21.920 --> 0:08:23.800 And some of them may have been this big on 0:08:23.840 --> 0:08:25.240 top of some of them that may be this big 0:08:25.320 --> 0:08:27.480 on top of some of them that might be this big, it's. 0:08:27.360 --> 0:08:28.480 Still a price increase. 0:08:30.120 --> 0:08:33.120 A budget deficit on top of a budget deficit on 0:08:33.160 --> 0:08:35.320 top of a budget deficit on top of a budget 0:08:35.320 --> 0:08:39.400 deficit adds to debt. Come we have a look at 0:08:39.400 --> 0:08:42.120 those numbers again. The expectations about the twenty twenties, the 0:08:42.160 --> 0:08:44.280 twenty thirties, the twenty forties, the twenty fifties, and the 0:08:44.320 --> 0:08:47.800 twenty sixties is that the joint keeps going into debt. 0:08:48.040 --> 0:08:52.600 Every one of those little graphs are not side by side, 0:08:52.600 --> 0:08:56.160 but instead are on top of each other. So this 0:08:56.200 --> 0:08:59.240 government may well be running out of excuses, which is 0:08:59.280 --> 0:09:02.080 why in part they are trying to get to an 0:09:02.120 --> 0:09:04.360 election sooner rather than later, and it's why they will 0:09:04.360 --> 0:09:07.280 not be delivering a federal budget because the most likely 0:09:07.320 --> 0:09:09.560 outcome of a next federal budget to be delivered in 0:09:09.600 --> 0:09:12.760 May as expected March as maybe is that we would 0:09:12.800 --> 0:09:17.079 be in deficit, and according to Deloitte, those deficits are 0:09:17.200 --> 0:09:24.320 deeper and longer than Grimjim is letting on as for 0:09:24.679 --> 0:09:28.400 your circumstances, which have not changed for the past three 0:09:28.559 --> 0:09:33.080 years and certainly not in the past couple and a 0:09:33.120 --> 0:09:35.600 bit years almost three years of this government. Is the 0:09:35.600 --> 0:09:37.120 problems when it comes to cost of living. 0:09:37.280 --> 0:09:37.439 Now. 0:09:37.480 --> 0:09:39.840 I know for some people boring to keep talking about it, 0:09:39.880 --> 0:09:43.640 but it is the fundamental vein that is running through 0:09:43.679 --> 0:09:47.800 any and every problem that exists for many and most Australians. 0:09:48.360 --> 0:09:51.440 And the Prime Minister, just like about budget surpluses, can 0:09:51.480 --> 0:09:55.360 pretend that two budget surpluses versus forty years of budget 0:09:55.360 --> 0:09:58.320 deficits is a reason to trust him. He can say 0:09:58.320 --> 0:10:00.280 cost are living as many times as he wants. This 0:10:00.320 --> 0:10:03.560 is how many times in question time alone, Labor tried 0:10:03.600 --> 0:10:05.439 to say it over and over again. 0:10:06.640 --> 0:10:09.280 Now, if those opposite really cared about housing and cost 0:10:09.280 --> 0:10:10.960 of living, they'd support this investment. 0:10:11.040 --> 0:10:14.760 In terms of the question that was asked as well 0:10:14.840 --> 0:10:17.240 about costs and cost of living. 0:10:16.960 --> 0:10:20.160 I attack or a bit of help that we're giving 0:10:20.160 --> 0:10:22.280 Australians with the cost of living. 0:10:23.559 --> 0:10:27.440 This government promised that things would be better today than 0:10:27.480 --> 0:10:29.880 when they took office. I'll show this to you every 0:10:30.000 --> 0:10:32.120 night because I want this image to be burnt, not 0:10:32.200 --> 0:10:34.600 just into your retina, I want you to go and 0:10:34.640 --> 0:10:36.960 find it and show it to the friends who would 0:10:36.960 --> 0:10:41.960 even think about rehiring the people who promised that cost 0:10:41.960 --> 0:10:44.160 of living would be lower under a labor government. 0:10:44.240 --> 0:10:45.559 Yet how many indicies. 0:10:46.080 --> 0:10:48.640 It is terrible those trying to pay off a house 0:10:48.800 --> 0:10:50.480 twelve interest rate rises. 0:10:50.800 --> 0:10:52.040 Oh but if it goes. 0:10:51.840 --> 0:10:54.480 Back to eleven, then somehow, magically, everyone's going to think 0:10:54.480 --> 0:10:57.520 the Prime Minister is great at managing the economy if 0:10:57.520 --> 0:11:01.320 somehow they can flum yet another budget surplus, somehow will 0:11:01.320 --> 0:11:04.080 ignore the settings that mean we are in for budget 0:11:04.080 --> 0:11:08.760 deficits for the next forty years. It was a company, 0:11:09.120 --> 0:11:11.240 and thankfully your country is not a company. We all 0:11:11.280 --> 0:11:13.080 know what the future of that company would be. Let 0:11:13.120 --> 0:11:16.640 alone its board of directors, let alone it's CEO. 0:11:18.760 --> 0:11:19.760 Last night on Q and A. 0:11:19.880 --> 0:11:22.959 Every now and then their bubble gets pierced with somebody 0:11:23.000 --> 0:11:24.719 talking about the reality. 0:11:24.320 --> 0:11:25.200 Of this issue. 0:11:25.679 --> 0:11:27.640 And if there is a shock result at the next 0:11:27.679 --> 0:11:31.240 federal election, there are no breadcrumbs that need to be learnt. 0:11:31.520 --> 0:11:33.760 There is a bakery sitting in the middle of the road. 0:11:35.600 --> 0:11:38.600 My husband and I we're grocery shop. I mean, the 0:11:38.679 --> 0:11:43.160 grocery shop is just staggering. And I don't know personally 0:11:43.520 --> 0:11:46.480 knowing a number of people who don't have a house, 0:11:46.559 --> 0:11:49.000 they're paying rent every week, and if they've got a 0:11:49.000 --> 0:11:51.959 couple of children, how do they pay rent? Pay all 0:11:51.960 --> 0:11:57.080 these heavy tolls, huge grocery bills, education, I mean medical 0:11:57.120 --> 0:11:59.720 that the list just goes on, and I think people 0:11:59.720 --> 0:12:02.400 are get to the point where they've lost all hope 0:12:02.720 --> 0:12:04.440 in there being a better way of life than what 0:12:04.480 --> 0:12:05.760 they're experiencing now. 0:12:06.920 --> 0:12:09.160 And I know this message is relentless. It's because the 0:12:09.320 --> 0:12:14.320 issue is this Christmas is going to see again people 0:12:14.400 --> 0:12:17.120 having to make choices about what they spend money on 0:12:19.120 --> 0:12:22.120 because they don't have the disposable income, because they are 0:12:22.160 --> 0:12:23.959 in the household recession that has now gone on for 0:12:24.000 --> 0:12:26.480 the best part of the entirety of the time that 0:12:26.520 --> 0:12:29.880 this mob have been in power. There is just very 0:12:29.960 --> 0:12:34.000 little money that is left. Channel nine did a survey 0:12:34.559 --> 0:12:37.120 of the people on its website and it says no presence, 0:12:37.280 --> 0:12:40.720 just cards. How Ousie's embracing for cost of living Christmas. 0:12:41.360 --> 0:12:44.240 The survey of their people on their website, so again 0:12:44.280 --> 0:12:47.600 not scientific but indicative, showed forty nine percent of readers 0:12:47.600 --> 0:12:49.480 are going to be cutting back on gifts, food and 0:12:49.559 --> 0:12:53.760 drinks due to cost of living. One reader said, the 0:12:53.840 --> 0:12:57.520 rise in costs of groceries and general living has put 0:12:57.559 --> 0:13:00.640 a damn on Christmas. Sadly, the exchange of gifts this 0:13:00.720 --> 0:13:02.000 year will be at an all time low. 0:13:02.000 --> 0:13:03.040 It is so disappointing. 0:13:03.480 --> 0:13:06.800 In graph form you can see that forty nine percent 0:13:06.840 --> 0:13:09.720 of people say and agree with the sentiment that living 0:13:09.720 --> 0:13:12.800 costs are forcing you to host a budget Christmas this year. 0:13:13.160 --> 0:13:16.320 For thirty six they're okay, and for a significant number 0:13:16.320 --> 0:13:20.120 of people they just don't know. Yet Again, inside the article, 0:13:20.280 --> 0:13:22.920 some survey of respondents noted that they can barely afford 0:13:22.960 --> 0:13:25.120 every day expenses, low bills and groceries, and paying for 0:13:25.200 --> 0:13:29.880 Christmas feels like an impossibility. But guess what the reason 0:13:29.920 --> 0:13:32.040 this becomes a political problem for the Prime Minister is. 0:13:32.280 --> 0:13:35.160 The cost of living Christmas of twenty twenty four is 0:13:36.240 --> 0:13:39.760 on top of the one from last year. The stories 0:13:39.760 --> 0:13:43.000 from last Christmas where yes, Christmas will be more expensive 0:13:43.040 --> 0:13:45.760 this year. The National Australian Bank, more Australians planning for 0:13:45.760 --> 0:13:48.080 a low cost Christmas, and on top of the twenty 0:13:48.240 --> 0:13:50.360 twenty four in the twenty twenty three what about the 0:13:50.360 --> 0:13:54.280 twenty twenty two Christmas? How much more Christmas dinner will 0:13:54.280 --> 0:13:56.920 cost in twenty twenty two and the ABC cost of 0:13:56.960 --> 0:14:01.439 living pressures mean Australians are having a fruit Christmas this year. 0:14:03.559 --> 0:14:05.240 That's why it doesn't. 0:14:04.880 --> 0:14:08.080 Matter what they say in question Time, when will this 0:14:08.160 --> 0:14:13.720 get through to the full time political protecteds protectors of 0:14:13.760 --> 0:14:16.840 the Prime Minister in the media that as much as 0:14:16.840 --> 0:14:18.720 he'd liked to turn around and say, oh, we've got 0:14:18.760 --> 0:14:21.600 all these incredible cost of living achievements, including two little 0:14:21.600 --> 0:14:24.640 two tax cuts that remember for the people who truly 0:14:24.680 --> 0:14:26.920 need them. The most people in and around forty thousand 0:14:26.920 --> 0:14:31.160 dollars were fourteen dollars a week. They turn around and say, well, 0:14:31.160 --> 0:14:33.520 that are there's in free take places. Great, I don't 0:14:33.560 --> 0:14:35.880 have a problem with that, But that's not millions of 0:14:35.920 --> 0:14:39.080 people that get access to that, oh cheaper childcare. Again, 0:14:40.040 --> 0:14:42.920 the extreme majority of people don't access that, oh a 0:14:43.040 --> 0:14:48.920 cheaper medicines. Again, the extreme majority of people don't involve 0:14:48.960 --> 0:14:51.520 themselves in that system. And it does mean that, yes, 0:14:51.560 --> 0:14:54.000 for some on the margins, they have a policy to 0:14:54.000 --> 0:14:56.360 be able to turn around and say, look, how we helped. 0:14:57.480 --> 0:15:00.000 But one thing that has been relentless over the past 0:15:00.080 --> 0:15:02.120 couple of years, of course, is the cost of electricity. 0:15:02.120 --> 0:15:03.960 And we get to that in a moment or two's time. 0:15:04.640 --> 0:15:08.840 Regardless of whether you are a pensioner, a young single person, 0:15:09.480 --> 0:15:13.520 a student living in a sharehouse, or your classic you know, 0:15:14.720 --> 0:15:16.960 two point four kids and a dog and a white 0:15:16.960 --> 0:15:21.080 picket fence, the cost of everything from petroling your car 0:15:21.200 --> 0:15:23.880 to ensuring the car, to paying off the house or 0:15:23.920 --> 0:15:27.640 paying the rent way higher than anything this government has 0:15:27.680 --> 0:15:31.520 done to try to square the ledger. And then there's 0:15:31.560 --> 0:15:33.920 that number that just won't go away, the one that's 0:15:33.960 --> 0:15:35.840 been stuck in my head and will be every day 0:15:35.840 --> 0:15:39.520 between now and the next federal election, that the kid 0:15:39.600 --> 0:15:44.600 from Housing Commission has observed and ran an Australian economy 0:15:44.640 --> 0:15:48.280 that has produced three million people who are this close 0:15:48.440 --> 0:15:52.480 to homelessness. A bloke who has the arrogance to turn 0:15:52.520 --> 0:15:55.120 around and say, because it's to his political benefit, not 0:15:55.200 --> 0:15:57.200 to the reality of the time, that the worst is 0:15:57.240 --> 0:16:00.000 behind us. It's like a doctor walking in and saying, oh, 0:16:00.000 --> 0:16:01.800 I guess what you can to free because I'm two 0:16:01.880 --> 0:16:05.200 days away from going on vacation, where the reality is 0:16:05.240 --> 0:16:07.680 you're just as sick as you ever were. The Prime 0:16:07.680 --> 0:16:11.160 Minister even had the stones to say this in question 0:16:11.280 --> 0:16:11.880 time today. 0:16:13.120 --> 0:16:16.920 People would have been in a much more difficult position 0:16:17.520 --> 0:16:21.160 if they didn't have their wages going up, their costs 0:16:21.240 --> 0:16:25.200 going down, and in placing coming back to where it 0:16:25.320 --> 0:16:26.040 should be. 0:16:27.800 --> 0:16:32.760 Again, this Canberra centric idea that the headline figure is 0:16:32.840 --> 0:16:36.640 all that matters, when the reality is that the headline 0:16:36.640 --> 0:16:38.760 figure turns around and says that our economy is growing 0:16:38.760 --> 0:16:42.200 by zero point one percent, and then you actually dig 0:16:42.240 --> 0:16:46.200 inside and largely it's government spending, including the hiring of 0:16:46.240 --> 0:16:49.320 tens of thousands of more public servants or pay rises 0:16:49.440 --> 0:16:51.640 for public servants that mean the Prime Minister can turn 0:16:51.640 --> 0:16:55.600 around and say, overall there's been some significant wage rises. 0:16:56.120 --> 0:16:59.680 Have you got one, as the family member who you 0:16:59.720 --> 0:17:02.560 know is struggling, got one? Of course, not I old 0:17:02.600 --> 0:17:05.480 inflations back to where it should be, because again for 0:17:05.560 --> 0:17:09.480 them it's just a giant arc, but for you, it's 0:17:09.520 --> 0:17:11.320 one month on top of one month on top of 0:17:11.320 --> 0:17:12.960 one month on top of one month on top of 0:17:12.960 --> 0:17:17.960 one month, which is why people complain like they do. 0:17:18.359 --> 0:17:21.080 It's why they can't be spun. It's why this is 0:17:21.280 --> 0:17:24.920 the determinant issue at the next federal election. We'll see 0:17:24.920 --> 0:17:26.840 whether the Liberal Party can be trusted to have an 0:17:26.840 --> 0:17:29.760 alternative vision. They need to have one, otherwise just pointing 0:17:29.800 --> 0:17:32.520 at the problem is not going to help. Again, if 0:17:32.560 --> 0:17:34.800 you want to look to the American election for some 0:17:34.840 --> 0:17:36.920 sort of answers here, and I'm not saying everyone's. 0:17:36.560 --> 0:17:37.359 Going to pull a Trump. 0:17:37.560 --> 0:17:40.479 Remember what his position was, No tax on tips, I'm 0:17:40.520 --> 0:17:43.639 going to harve your electricity bills because we're going to 0:17:43.640 --> 0:17:48.760 go back to the fossil fuels which push down the prices. 0:17:49.080 --> 0:17:52.480 No tax on social suit. There was an alternative financial 0:17:52.480 --> 0:17:56.040 offering that was on the table. It'd be nice to 0:17:56.040 --> 0:17:59.440 see the alternative government start to put that vision in place, 0:17:59.440 --> 0:18:02.159 because when they they do, then the election outcome, in 0:18:02.200 --> 0:18:04.920 my view, is not going to be a big question anymore. 0:18:05.680 --> 0:18:07.480 People are ready to break up with the prime minister 0:18:07.520 --> 0:18:10.199 who was bs than and had the wrong priorities for 0:18:10.280 --> 0:18:12.800 too long, and it doesn't matter whether he's been there 0:18:12.800 --> 0:18:16.760 for one term or sixteen terms. When they turn on you, 0:18:16.800 --> 0:18:19.000 they turn on you. When they stop listening to you, 0:18:19.359 --> 0:18:21.800 They stop listening to you, and it doesn't matter how 0:18:21.840 --> 0:18:24.640 great your scare campaign is or how many people write 0:18:24.640 --> 0:18:28.639 the opinion pieces in favor of you, because look what 0:18:28.680 --> 0:18:33.680 happened with Kamala, Look what happened with Stephen Males, Look 0:18:33.720 --> 0:18:38.480 what happened with Dominic Perrete. When the tide is out, 0:18:38.560 --> 0:18:42.040 the tide is out, and no amount of teals or 0:18:42.119 --> 0:18:45.120 Greens are most likely going to save your backside. When 0:18:45.160 --> 0:18:48.199 again from page of The Australian Today, I don't normally 0:18:48.200 --> 0:18:50.919 talk about yesterday's news or this morning's news tonight. I'm 0:18:50.920 --> 0:18:54.520 always focused on tonight and looking forward rather than back. 0:18:54.560 --> 0:18:57.119 But this was important. Inflation pain is. 0:18:57.119 --> 0:19:00.359 Going to go all this year, all next year and 0:19:00.520 --> 0:19:02.359 into twenty twenty six. 0:19:03.640 --> 0:19:04.800 So good luck at an election. 0:19:04.920 --> 0:19:05.840 Prime Minister. 0:19:08.280 --> 0:19:08.840 To Energy. 0:19:08.920 --> 0:19:11.080 Yes, you know, it was a hot day in Sydney 0:19:11.080 --> 0:19:12.680 and big parts of New South Wales Queensland. 0:19:12.720 --> 0:19:14.399 It's on the way for you in the next couple 0:19:14.400 --> 0:19:15.000 of days. 0:19:16.720 --> 0:19:19.000 And just like the previous government, the current government, the 0:19:19.080 --> 0:19:21.680 Labor government in New South Wales has had to say, 0:19:21.760 --> 0:19:23.639 despite the fact we're a quarter of the way into 0:19:23.680 --> 0:19:27.200 the twenty first century, you cannot be trusted to use 0:19:27.240 --> 0:19:29.480 anything in your house that will make you cooler, because 0:19:29.840 --> 0:19:32.040 the entire system might fall over. 0:19:33.480 --> 0:19:36.200 The advice is always the same on really hot days, 0:19:36.240 --> 0:19:38.639 do you really need to have every single light on 0:19:38.720 --> 0:19:40.680 in the house? Do you need to have your air conditioning? 0:19:42.280 --> 0:19:44.280 Doubt at nineteen degrees you don't. 0:19:47.000 --> 0:19:50.159 I'll give you the tip. Your light globe use is 0:19:50.200 --> 0:19:51.120 not going to be the difference. 0:19:52.400 --> 0:19:54.879 What they will try to do is turn around and 0:19:54.960 --> 0:19:58.160 tell people that heavy manufacturing is not allowed to happen 0:19:58.200 --> 0:20:02.000 on certain hot days. That they will try to literally 0:20:02.480 --> 0:20:05.520 turn off computers in and around parts of the public sector. 0:20:06.400 --> 0:20:07.840 That's how fragile the grid is. 0:20:07.840 --> 0:20:09.560 And I went into great detail in that last night, 0:20:09.560 --> 0:20:12.000 and a huge reaction to that conversation last night, and 0:20:12.000 --> 0:20:14.280 I appreciate all the people who sent me an email. Well, 0:20:14.280 --> 0:20:17.320 guess what ended up happening. There were black ats once 0:20:17.359 --> 0:20:21.600 happened inside central Sydney where a big chunk of the 0:20:21.600 --> 0:20:25.240 CBD was affected by blackouts today, of course, nothing to 0:20:25.280 --> 0:20:27.880 do with the weather. Just to complete an absolute coincidence 0:20:28.000 --> 0:20:30.360 that on the day they said it might happen, buildings 0:20:30.359 --> 0:20:32.679 that use an awful lot of power didn't have a 0:20:32.760 --> 0:20:37.360 power network that worked for them. Okay, meantime, I've got 0:20:37.359 --> 0:20:39.520 to say someone who needs to sharpen the pencil a 0:20:39.560 --> 0:20:41.760 little bit with some of the question time tactics. Not 0:20:41.960 --> 0:20:45.159 a question about this today in federal Parliament. Now, I 0:20:45.240 --> 0:20:47.680 know it's only something that's happening in one city, one state, 0:20:47.720 --> 0:20:51.560